Airbus, Thales, and Leonardo Approaching Space Business Merger

European aerospace companies Airbus, Thales, and Leonardo are nearing a merger agreement for their space businesses, with Airbus set to hold 35% stake. The merger, dubbed "Project Bromo", aims to create a 10 billion-euro joint venture, drawing inspiration from previous European collaborations.

Airbus, Thales, and Leonardo, leading European aerospace groups, are reportedly on the brink of merging their space business units, as reported by the Financial Times. The tentative deal is said to allow Airbus a 35% share, with Thales and Leonardo holding the remaining shares equally.

The proposed merger, referred to as "Project Bromo," is anticipated to establish a robust 10 billion-euro French-headquartered enterprise. Sources familiar with the discussions revealed that Airbus might receive compensation for its limited share despite generating half of the current turnover.

This merger mirrors past successful European aerospace collaborations, such as the 2001 MBDA missiles venture initiated by France, Italy, and Britain. However, Airbus, Thales, and Leonardo have yet to officially comment on these developments.

(With inputs from agencies.)